Looking at the statistics from a Melb study, the churn rate of top tier law firms are 40% staff renewal every 3-5 years. I imagine IP would be significantly higher than than. Consider the chances of you making to the point where the pay figures are such, let alone making it to 10 year mark or to equity partner. I'd wager the risks involved in keeping a job in IB are not that much smaller than sensible investment over a decade.
Your point is taken though. Risks associated with investment are of course external, whereas staying in a top tier firm or IB depends primarily (i wont say solely, considering the condition of the markets) on your own ability; there much to be said for that. However, the numbers in this case don't lie. Where you have hordes of talented, driven people exiting these firms prematurely, you have to look realistically at your chances of staying. This is again a personal matter, WannaBeLaw might have nerves of steel and an iron will, reading her post however, it sounds rather like young naivity. So, I have my doubts...
If your careful not to fall into speculation while investing, I don't think the risk is manageable. My original point was not so much about risk, but efficiency in making money. My view, and this is very much my personal view, is that working 12-14 hour days for 150-200k is not an efficient way of making money. Its not a particularly good way to live your life either, but again that's a view personal to me and I understand why people would disagree.
Your point is taken though. Risks associated with investment are of course external, whereas staying in a top tier firm or IB depends primarily (i wont say solely, considering the condition of the markets) on your own ability; there much to be said for that. However, the numbers in this case don't lie. Where you have hordes of talented, driven people exiting these firms prematurely, you have to look realistically at your chances of staying. This is again a personal matter, WannaBeLaw might have nerves of steel and an iron will, reading her post however, it sounds rather like young naivity. So, I have my doubts...
If your careful not to fall into speculation while investing, I don't think the risk is manageable. My original point was not so much about risk, but efficiency in making money. My view, and this is very much my personal view, is that working 12-14 hour days for 150-200k is not an efficient way of making money. Its not a particularly good way to live your life either, but again that's a view personal to me and I understand why people would disagree.
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